WASHINGTON, April 2 /PRNewswire/ -- Unit Investment Trusts, investment companies that purchase fixed portfolios of selected bonds or stocks, increased their deposits through offerings in February of $745.3 million for a total of $1.65 billion in 1993, compared with $1.50 billion in 1992, according to statistics compiled by the Investment Company Institute.
Tax-free bond trusts issued shares in February with deposits of $414.1 million, for a total of $938.1 million in 1993, compared with $848.3 million in 1992. Shares issued by taxable bond trusts reached $146.4 million in February for a total of $282.6 million in 1993, compared with $373.3 million in 1992. Deposits to equity trusts totaled $184.8 million in February, for a year-to-date total of $426.8 million, compared with $277.4 million for 1992.
There were 82 new tax-free bond trusts issuing shares in February, seven new taxable bond trusts, and 10 new equity trusts.
In terms of maturity, long-term bond trusts with an average weighted maturity of more than 15 years were the most commonly offered in February with $422.5 million in shareholder deposits.
1991 YEAR-END TOTALS
Data on the market value of unit trusts issued and outstanding at the end of 1991 indicates a total of 12,388 unit trusts with a market value of $102.83 billion. According to reports of 16 sponsors, there were a total of 11,542 tax-free bond trusts representing a year-end 1991 market value of $88.17 billion, 678 taxable bond trusts representing year-end 1991 market value of $9.72 billion, and 168 equity unit trusts reporting year-end 1991 market value of $4.94 billion.
Year-end totals for 1992 will probably be reported in April.
The Investment Company Institute is the national association of the U.S. investment company industry.
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/CONTACT: Betty Hart of the Investment Company Institute, 202-955-3532/